The Best Advice for Veterans Looking To Start Businesses
Would it surprise you to know that 1 out of 14 small businesses in the United States is owned and operated by a veteran? It shouldn’t be. Veterans possess a particular skillset only gained by their unique training and experience. If this gives you cause to start your own business when you leave your military career behind, there are some hints that may help you get on the right path. Knowing how to obtain veteran-owned business financing, for example, is something that may be of interest to those considering going this route in civilian life.
Become a Planner
There is a good chance you are pretty good at carrying out plans but are you as used to crafting those plans? When it comes to opening your own business, unless you are in a partnership, you alone are responsible for coming up with the business plan that will set you up for success. Put pen to paper. Not sure where to start? Check out your local Veterans Affairs office for networking opportunities and seminars on how to start your business and obtain veteran-owned business financing along the way.
Tapping Into Financial Resources
Being a veteran has its perks, and one is access to government programs. There are special loans and financing options available only to individuals who are former military. These loans and grants typically offer favorable rates and repayment terms.
Don’t Reinvent the Wheel
Perhaps you should consider opening a franchise. Being a franchisee is as close to running your own business without having to hatch the idea and get it up and running. It may be the perfect fit for you at present. You can always take your leadership and management experience that comes from operating a franchise to build something new down the road.
Go With What You Know
There is nothing wrong with taking your military experience and creating a business around it. There is no shortage of need for veterans’ services. Use your direct knowledge of military service to help others either considering it, in it or who have left it. You may wind up doing training to help veterans get more skills to support themselves in the future. The possibilities are endless.
Veteran-owned business financing is not the hardest thing you’ll need to face when starting up your business. There are investors, loan companies and programs offered only to former military to increase veteran-owned companies. Take full advantage of these and other opportunities to launch your very own success story.